Checking account online banking bank of america

Dollar Savings Direct, a subsidiary of Emigrant Bank in New York, currently offers 4% APY on their savings account ($1000 minimum) whereas Bank of America's savings account offers a ridiculously low 0.2%. Advantage: Online banks are FDIC- insured. ... Link that checking account to the savings account and keep your funds there. This lets you transfer funds from savings to checking instantaneously, answering one of the biggest complaints about online banks. ...